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spiringPROGRESS [01/20] BUILT ON TRUST Reliability is the cornerstone of development ALREADY ON IT How INDUS portfolio companies are tapping into the future HONESTY HELPS The automotive industry as we know it is a thing of the past ALGORITHMS INSTEAD OF AUTONOMY? The chip calls the shots INDUS Holding AG Magazine 01/20 CONTENTS [1] EDITORIAL [2] RELIABILITY [8] BUILT ON [20] EVERYDAY RELIABILITY TRUST [32] [IN]SIDE – INTRODUCING Reliability is the cornerstone INDUS PROJECTS of development [37] INDUS TICKER 2019 INDUS stands by its performance pledge and is bringing its interpretation into line with the new era. [12] ALREADY ON IT How INDUS portfolio companies are tapping into the future [16] GETTING BETTER Momentum wanted [22] HONESTY HELPS The automotive industry as we know it is a thing of the past [25] A PROMISE KEPT Growing with INDUS professionally and personally [28] ALGORITHMS INSTEAD OF AUTONOMY? The chip calls the shots The rapid pace of technological change is having an impact on almost all areas of our lives. An expert interview on the current developments and the opportunities set to open up in the future. [34] MONITORING IS GOOD, TRUST IS BETTER Interview with twelve-time Paralympic champion Verena Bentele The former exceptional athlete, who is now a renowned speaker and personal trainer, talks about exploiting human potential. [IN]spiring progress Magazine 01/20 1 DR. JOHANNES SCHMIDT Chairman of the Board of Management of INDUS Holding AG EDITORIAL Dear readers, Things could be better around the world at the moment. Global politics are getting rougher. The coronavirus is causing people concern. The economy is faltering. The European Union is losing its second-strongest economy. Issues are arising in many of the industries our Group is active in. The auto- motive industry in particular is currently dominated by change. Somewhat ironically, the main theme of the magazine that we are publish- ing with this year’s Annual Report is reliability. Why? I believe this is just the right time to turn our attention to this topic. Relia- bly keeping promises is important to us. It has been one of our fundamental values for thirty years, and a feature of everyday work both at the portfo- lio companies and at the holding company. This includes promises made to you: our shareholders, partners, managers, and employees. This will remain the case in the future. Everything that we do in the Group is long term in nature and aims to protect our reputation as a long-term home for successful SMEs. However, this aim alone does not free us from a duty to transfer this atti- tude to the prevailing situations, and we have come up with the PARKOUR strategy plan to ensure this. I look forward to the increased agility, quicker decision-making, and wide range of new ideas that our Group has in store. This latter feature, in particular, is a proven strength of SMEs. Johannes Schmidt 2 INDUS Holding AG RELIABILITY A GUIDING LIGHT The Tower of Hercules in La Coruña, Spain, is the oldest lighthouse in the world and has been a faithful guide for ships nearing the rocky coast since Roman times. It has withstood catastrophes and fires since ancient times and has been rebuilt several times, changing its appearance, but it has never stopped being a guiding light. [IN]spiring progress Magazine 01/20 3 4 INDUS Holding AG RELIABILITY THE RIGHT TOUCH Eighteen mechanics set to work during a normal Formula 1 pit stop. The top teams send their racers back onto the track after less than two seconds in some cases. The racers in turn have complete faith in their colleagues and push the machines to the limit. [IN]spiring progress Magazine 01/20 5 6 INDUS Holding AG [IN]spiring progress Magazine 01/20 7 RELIABILITY WELL PREPARED Flawlessly functioning systems and precise preparations are vital to the success of any space mission. The intensive training that astronauts undergo has in the past helped them to take the right steps during unfore- seeable events – as during the famous Apollo 13 mission. 8 INDUS Holding AG [IN]spiring progress Magazine 01/20 9 RELIABILITY IS THE CORNERSTONE OF DEVELOPMENT When Helmut Schmidt was asked by Giovanni di Lorenzo in 2012 what the former chancellor considered to be the most important virtue in his life, his reply was: “Reliability. I have to be able to rely on the fact that when someone tells me something, they are telling me the truth as they see it. I must be able to rely on the fact that when someone promises something, they will do everything to fulfill that promise.” Is this a virtue from a bygone time? Or is there a good reason to hold on to this virtue – even in business? BUILT ON “MADE IN GERMANY” – A PROMISE FACES A United States, the population’s confidence in CRISIS German companies has declined by seven per- centage points to 38% within a year. In France it The label “Made in Germany” originates is down ten percentage points at 46%. And even from 1877 and was coined by the British in countries where the confidence rate is much government as a derogatory description higher at over 70% – emerging countries such as for allegedly low-quality goods from Ger- Brazil, India, Mexico, and China – there are clear many. The politicians of the time achieved signs that Brand Germany’s good reputation is the exact opposite of their intentions with this in- waning. itiative. For almost one-and-a-half centuries now, “Made in Germany” has been associated with re- The drop in the survey figures is even more re- liability, quality, and technological advancement markable as Germany was considered the home around the world – even in the UK. of the most trustworthy global companies along with countries such as Canada, Switzerland, and However, according to the results of a study into the UK. However, scandals such as those seen in trust, Brand Germany’s great reputation seems the banking, chemicals, and automotive indus- to be wearing off. The international consulting tries have made a dent in the trust placed in Ger- agency Edelman has been producing an annual man companies. trust barometer for 27 markets for 20 years – re- cently even twice a year for some markets. The This is perpetuated when the scandals are repeat- figures for 2019 speak for themselves: In the ed. If there is a problem, it can often be remedied 10 INDUS Holding AG with a committed change of course and careful INDUS has formulated an answer to this ques- communication. People have understanding for tion with its PARKOUR strategy program. This that. But if it happens twice or even three times, answer is partially pushing both the Board of the trust is usually gone for good. Management and the portfolio companies out of their comfort zones as it places a lot of responsi- In addition, these crises have come at a time in bility on the stakeholders. But this is important: which the public increasingly expect companies If a company has no targets and no methods for to show an interest in more than just profit. Con- achieving them they will find themselves on a sumers, particularly in countries with populist slippery slope that will lead to erratic conduct governments, expect companies to fill the gap left and a loss of control sooner rather than later. by politicians. In many countries now, people’s own employers are the institutions they trust the Targets give all stakeholders direction, and train- most. ing to improve skills promotes confidence. With these qualities a port can be found even during a DESPITE EVERYTHING: DEFINE TARGETS AND storm. DEVELOP SKILLS As for training, the holding company actively Even for companies not suffering under scandals supports its portfolio companies with both eco- and delivering reliably, like the ­­INDUS Group, nomic means and information transfer. This sup- it has become more difficult to hold onto a good port should not be underestimated because most reputation. The political situation, and with it other SMEs in the markets often do not have such the economic conditions, have become more powerful back-up. unpredictable, which makes producing reliable forecasts almost impossible. On the other hand, the digital revolution may open up new oppor- tunities, but it is also making vast numbers of established business models irrelevant. And at many companies it is difficult to see the final destination for sheer agility. How can we best act in this environment so that all stakeholders in company view it as a reliable partner? [IN]spiring progress Magazine 01/20 11 CLEAR EXPLANATIONS Providing stakeholders with comprehensive in- formation is also important because the target groups’ information requirements have changed fundamentally since the financial crisis ten years ago. People do not just want to know what a company does but also how it does it. One way in which this new expectation has manifested itself is the noticeable increase in the importance of corporate governance and sustainability reporting. People want to understand how a company func- tions, including any reciprocal effects, and – if it manufactures goods – what the supply chain looks like. And they make their cooperative de- cisions based on this information – whether as partners, shareholders, or employees. STAYING TRUE TO OUR VALUES AND SETTING STANDARDS In times of transformation, there is one thing that COMMUNICATING HONESTLY AND PROACTIVELY really underscores the perception of reliability: a clear commitment to values and standards of There are other methods of conduct that also con- conduct. A prerequisite for this, however, is that vey a strong sense of reliability – maintaining the the company doesn’t just suddenly adopt them virtues of honesty and transparency are particu- opportunistically, but that they are standards and larly important.

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